Inspire Investing LLC Purchases 2,626 Shares of Gentex Corporation $GNTX

Inspire Investing LLC increased its position in Gentex Corporation (NASDAQ:GNTX) by 9.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 30,651 shares of the auto parts company’s stock after buying an additional 2,626 shares during the quarter. Inspire Investing LLC’s holdings in Gentex were worth $674,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Gentex by 4.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,622,237 shares of the auto parts company’s stock worth $37,798,000 after acquiring an additional 62,137 shares during the period. Principal Financial Group Inc. boosted its stake in Gentex by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 523,489 shares of the auto parts company’s stock worth $12,197,000 after purchasing an additional 1,923 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of Gentex by 5.9% during the first quarter. Asset Management One Co. Ltd. now owns 219,454 shares of the auto parts company’s stock worth $5,113,000 after acquiring an additional 12,168 shares during the last quarter. Praxis Investment Management Inc. bought a new position in shares of Gentex during the first quarter worth $359,000. Finally, Speece Thorson Capital Group Inc. boosted its position in shares of Gentex by 18.3% during the first quarter. Speece Thorson Capital Group Inc. now owns 682,684 shares of the auto parts company’s stock worth $15,907,000 after acquiring an additional 105,446 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

Wall Street Analysts Forecast Growth

GNTX has been the subject of several research reports. UBS Group reissued a “neutral” rating and set a $29.00 price objective (up previously from $28.00) on shares of Gentex in a report on Monday, October 6th. Industrial Alliance Securities set a $25.00 price objective on shares of Gentex in a report on Friday, July 11th. Wall Street Zen raised Gentex from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Zacks Research lowered Gentex from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $29.88.

Gentex Trading Down 2.3%

Shares of NASDAQ:GNTX opened at $25.63 on Monday. Gentex Corporation has a 12 month low of $20.28 and a 12 month high of $31.48. The company has a 50-day moving average price of $27.77 and a 200 day moving average price of $24.31. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 14.48 and a beta of 0.84.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, July 25th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.08. The business had revenue of $657.86 million during the quarter, compared to analyst estimates of $591.94 million. Gentex had a return on equity of 16.86% and a net margin of 16.82%.The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the company earned $0.37 EPS. Gentex has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th will be given a $0.12 dividend. The ex-dividend date is Wednesday, October 8th. This represents a $0.48 dividend on an annualized basis and a yield of 1.9%. Gentex’s dividend payout ratio (DPR) is currently 27.12%.

Gentex announced that its board has initiated a stock buyback program on Wednesday, July 16th that permits the company to repurchase 40,000,000 shares. This repurchase authorization permits the auto parts company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Gentex Profile

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.